Retirement plan

MEDISUITE 401K PLAN

Name: MEDISUITE - MEDISUITE 401K PLAN (2023) Form 5500
Creator: MEDISUITE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDISUITE 401K PLAN, MEDISUITE

MEDISUITEEIN 47-5227227Plan #002PY 2023

160 MACGREGOR PINES DR SUITE 110 - CAVY, NC 27511919-616-0373medisuite.comLinkedIn11-50 employeespharmaceuticals

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$159K

+57.6% from 2022

Total participants

+12.5% from 2022

Average account balance

$17,710

+40.1% from 2022

Annual return

23.78%

+23.78 pp from 2022

Benchmarks

See 23,814 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,814 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$285K

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$57K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.84%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$1321

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,710

$154,193-88.5%

$130,045-86.4%

$139,466-87.3%

Participation rate

100.0%

82.0%+18.0pp

78.5%+21.5pp

80.3%+19.7pp

Annual return

23.78%

32.51%-8.7pp

-137.30%+161.1pp

373.66%-349.9pp

Employer contribution / active EE

$6,525

$5,292+23.3%

$4,321+51.0%

$4,754+37.2%

Participant deferral / active EE

$10,594

$6,709+57.9%

$5,820+82.0%

$6,712+57.8%

Admin fee / account holder

$13,989-100.0%

$10,600-100.0%

$11,409-100.0%

MEDISUITE 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MEDISUITE 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion